The Consumer Financial Protection Bureau (CFPB) introduced a new online tool that allows the public to track mortgage delinquency rates throughout the country.
The Mortgage Performance Trends tool tracks data on mortgage delinquency rates for 50 states and the District of Columbia, down to the county and city levels. It features interactive charts and graphs.
“Measuring the number of consumers who have fallen behind on their mortgage payments is a telling barometer of the health of mortgage markets locally and nationally,” CFPB Director Richard Cordray said. “This rich information source identifies mortgage delinquency rates down to the county and metro-area level, making it a useful public tool.”
Mortgage Performance Trends measures the delinquency rates in two general categories – the first is for those who are 30 to 89 days behind on their mortgage payments while the second is for delinquencies that are more than 90 days overdue.
Tracking this data detects trends, which can serve as an early warning sign for developments that could impact the overall economy.
Nationally, mortgage delinquency rates are at their lowest point since the financial crisis. The rate of serious delinquencies is 1.1 percent, down from a high of 4.9 percent in 2010.
For serious delinquencies of more than 90 days, Colorado and Alaska have the fewest with 0.5 percent, while New Jersey and Mississippi have the highest rates — 2.1 percent.
Data for the tool comes from the National Mortgage Database, which the CFPB and the Federal Housing Finance Agency launched in 2012. The tool includes security measures to protect personal identity.